Lenovo chalked up yet another quarter of impressive sales and earnings growth. The question now is, can the company juggle two multibillion dollar acquisitions at the same time and still stay on track?

IBM's x86 server business, for example, has seen double-digit sales declines recently, and Motorola's smartphone business was bleeding money for Google. Despite those issues, CEO and Chairman Yang Yuanqing said during the earnings call that both businesses would be key drivers for the company's growth plan.

"The Motorola and IBM server acquisitions that we just announced are a perfect fit with our PC Plus strategy," Yang said. "While our top priority now is full participation in the regulatory approvals process, I am confident that from day one after closing, these businesses will quickly begin contributing to our performance and develop into pillars for long-term, sustainable growth."

But Yang told The Wall Street Journal the Motorola deal specifically "could have a certain negative impact [on earnings] in the short term." He also told Bloomberg News that Lenovo can turn around Motorola Mobility "in a few quarters."

For now, Lenovo is still raking in the profits. The company's third quarter was highlighted by a 30 percent year-over-year increase in net income to $265 million. Lenovo also posted revenue of $10.8 billion, a 15 percent year-over-year increase that helped the company pass the $10 billion quarterly sales mark for the first time.

The company shipped 15.3 million PCs for the quarter, with Lenovo's laptop business accounting for $5.4 billion, an 11 percent increase from the same quarter one year ago. Lenovo's desktop business also grew 9.1 percent year-over-year.

Finally, Lenovo's Mobile Internet and Digital Home (MIDH) products, which include the company's smartphone and tablet devices, saw revenue jump 73 percent from the same quarter one year ago, with $1.7 billion in sales. In total, Lenovo said it shipped 17.3 million smartphones and tablets in the quarter.

XChange Solution Provider 2015 is finally upon us and the timing couldn't be better. The premier channel event is happening March 1-3 in Dallas, bringing together 225 solution provider decision makers from across North America. CRN is at the event to provide news, analysis and a firsthand take from partners.